The Shipping Ministry’s plan to drive demand for ships built in India by linking a government-mandated cargo support policy for domestic fleet owners to India-built vessels, may yet not work out. Indian-built, Indian-flagged and Indian-owned ships will get top priority when state-owned firms and government departments float tenders to hire ships for hauling cargo or for dredging and offshore oil exploration support services, according to the new rules on the so-called right of first refusal (RoFR) announced on Thursday. Foreign-built, Indian-flagged and Indian-owned ships will get second preference while Indian-built, ...

The IMO 2020 regulations, along with the promise of further mandates down the line, are pushing ship designs forward. With the IMO 2020 regulations now in place and future regulations in the pipeline, shipbuilders and ship purchasers alike are planning ahead for a future in which greater emphasis is placed on efficiency. Reducing the environmental impact of shipping is urgent: according to the Clean Shipping Coalition, a global environmental coalition exclusively dedicated to shipping, it is imperative that ship owners in particular take meaningful action to reduce their contribution to ...

The Energy Market Authority (EMA) and Keppel Offshore & Marine (Keppel O&M) have jointly awarded a research grant to pilot Singapore’s first floating Energy Storage System (ESS). This project was awarded to a consortium led by Envision Digital International Pte Ltd (Envision Digital). This is part of the $10 million partnership between EMA and Keppel O&M to develop innovative energy solutions in the marine sector announced earlier in April this year. Keppel O&M will be working with the consortium to deploy a 7.5 MW/7.5MWh lithium-ion battery ESS on Keppel O&M’s ...

Damen Shipyards Group has recently completed the extensive rebuild of cutting-edge research vessel OceanXplorer at Damen Shiprepair Rotterdam. The vessel will contribute significantly to OceanX’s mission – to explore the ocean and bring it back to the world. In this way, the initiative aims at the building of a global community engaged with understanding, enjoying and protecting our oceans. Upon completion of the project, OceanXplorer has become the most advanced exploration, research and media vessel in the world. As OceanX’s new flagship, she builds on the legacy of the organisation’s ...

The Shipping Ministry’s plan to drive demand for ships built in India by linking a government-mandated cargo support policy for domestic fleet owners to Indian built vessels may not work out yet. Indian built, Indian flagged and Indian owned ships will get top priority when State-owned firms and government departments float tenders to hire ships for hauling cargo or for dredging and offshore oil exploration support services, according to the new rules on so-called right of first refusal (RoFR) announced. Foreign built, Indian flagged and Indian owned ships will get ...

South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) is expected to meet its annual order target thanks to a winning streak in the second half. DSME reportedly is near signing a contract with Japanese shipping firm Iino Lines to build one 91,000-cubic-meter Very Large Gas Carrier (VLGC) plus an option to build another VLGC vessel, according to multiple foreign media outlets on Thursday. A VLCC of the same class costs around $80 million. The Japanese client reportedly is placing the shipbuilding order to carry liquefied petroleum gas for Austrian chemical ...

ABS has granted Approval in Principle (AiP) to Daewoo Shipbuilding & Marine Engineering (DSME) for an innovative floating storage power plant LNG cargo handling system. The system is designed as an all-in-one energy supply facility that can receive, store and regasify LNG, then generate and supply electricity and natural gas at the same time. A new concept, DSME’s 200MW design has capacity to produce and supply electricity from floating structures with a length of 161m, width of 60m and height of 33m, and directly supply natural gas of about 200 ...

The government plans to use a mix of duty restrictions on small vessel imports and the prevailing cargo support policy in a multi-pronged strategy to grow the local shipping, ship building and repairs industry. The Customs duty paid on the import of vessels will be fully refunded if the vessel is replaced by a new ‘Made in India’ vessel in four years, according to the Maritime India Vision 2030 document prepared by the Shipping Ministry. State-owned firms will provide long-term charters of over seven years for vessels made in India ...

As part of the investigation concerning GTT’s commercial practices with the Korean shipyards, the Korea Fair Trade Commission announced on Saturday that a hearing of the case is scheduled on October 21st 2020. This follows the issuance from the Korea Fair Trade Commission of a confidential Examiner Report. The Examiner Report sets out the preliminary conclusions of the Korea Fair Trade Commission’s case team, following its investigation. The Examiner Report does not prejudge the outcome of the procedure. It opened a new phase, during which GTT and its counsels have ...

Daewoo Shipbuilding & Marine Engineering (DSME) has recently won a two-trillion-won order for six LNG carriers. The latest order, which is valued at 2.03 trillion won, was placed by a European client. It is the largest single order for the Korean shipbuilding industry in 2020. The order elevated DSME’s cumulative order achievement rate from 21 percent (US$1.5 billion) to 46 percent (US$3.3 billion). The order also allowed DSME to rank first among major Korean shipbuilders in terms of order target achievement ratio, ahead of Hyundai Heavy Industries Group (Hyundai Heavy ...

Mitsubishi Shipbuilding Co., Ltd., a part of Mitsubishi Heavy Industries (MHI) Group, has been granted a new approval in principle (AIP) *1 by Bureau Veritas (BV), a world leader in testing, inspection, and certification. The approval is for a liquefied natural gas (LNG) fuel gas supply system (FGSS) for marine four-stroke dual fuel engines*2. The approval was confirmed in a presentation ceremony at Mitsubishi Shipbuilding’s Headquarters in Yokohama today. The FGSS comprises an LNG fuel tank, gas supply unit, control systems, and other relevant equipment. The system was developed mainly ...

Damen Shipyards Group has recently signed a contract with Corps van Vletterlieden for a Stan Tug 1004. The company will use the Stan Tug for a wide range of tasks, including mooring, supply, crew transfer and diving support, in the Port of IJmuiden in the north of the Netherlands. Having signed the contract on October 2nd, Damen expects to deliver the vessel in January next year. The speed of the delivery is facilitated by Damen’s practice of building standard vessels in series. As well as ensuring fast delivery, this also ...

The Central government has notified the Director General of Shipping as the national authority for recycling of ships under the Recycling of Ships Act, 2019. The national authority of ship recycling will be set up in Gandhinagar, Gujarat. The location of the office will benefit the ship recycling yard owners situated in Alang, Gujarat which is home to the largest ship recycling industry in the world. DG Shipping is authorized to administer, supervise and monitor all activities relating to ship recycling in the country, a government statement said. DG Shipping ...

SHI’s sluggish order performance continued in 3Q20. While losses are believed to have narrowed in 3Q20, it is yet too early to confirm overall business environment improvement. Investor patience is required until 2Q21, when Qatar LNG-related orders are anticipated. Maintain Hold: Order performance still weak SHI’s 2020 YTD orders total only US$1bn (-76% y-y). Of note, six Artic LNG orders, which were expected in 3Q20, also escaped capture. The pace of SHI’s earnings growth is expected to slow sharply from 2H21, as losses likely continue and order backlog expansion remains ...

Korea Shipbuilding & Offshore Engineering, the shipbuilding holding company of Hyundai Heavy Industries Group, announced Friday that the company has secured 140 billion won of new deals from overseas companies. The Korean shipbuilder plans to deliver a 40,000 cubic-meter liquid petroleum gas carrier to a Singaporean firm and two product carriers to its Liberian contractor, starting in March, 2022. The new ships by Korea Shipbuilding & Offshore Engineering are able to control emission to comply with The International Maritime Organization’s regulations to reduce sulphur oxides, according to the shipbuilding firm. ...